A prominent cryptocurrency analyst has reiterated that the price of meme-inspired digital currency Dogecoin (DOGE) will skyrocket in the near future, with April 20’s “holiday meme” potentially triggering a 180% return.
if $ Governor The April 20 meme holiday didn’t run much higher.
When Elon starts talking about Dogecoin, it usually doesn’t happen in isolated incidents.
He has another meme. It’s just a matter of when he explodes.
Under ten cents is free.
— KALEO (@CryptoKaleo) April 5, 2023
April 20th is a meme holiday that marks marijuana smokers around the world celebrating cannabis culture in their own special way. April 20 is derived from the code 420, which was used by a group of high school students in California in the 1970s as a signal to party and smoke marijuana.
Countless memes mock the effects of marijuana, stereotypes of marijuana users, the legal status of the drug and the reactions of celebrities and politicians. For the crypto strategist nicknamed Kaleo, the memes will also help drive DOGE as he looks to Twitter, Tesla and Space X CEO Elon Musk to tweet about crypto.
Earlier this week, Kaleo shared with his more than 500,000 followers on the Weibo platform that DOGE broke the downtrend on its high time frame and could target the $0.25 mark, taking its current value to 0.0 $.0827 doubled.
In a new tweet, Kaleo said he believes the $0.25 mark is a “magnet” for meme-inspired cryptocurrencies. Notably, Google searches for Dogecoin surged nearly 2,000% in the past seven days after Twitter changed its logo to DOGE’s Shiba Inu, Bitcoin Magazine reported.
As the frenzy ensued, the cryptocurrency inspired by the DOGE meme also spiked after Twitter changed its logo, data from CryptoCompare shows.
Long-term investors are currently holding tens of billions of DOGE tokens, as entities that have held the cryptocurrency for over a year now own 44.8 billion tokens, worth more than $4.5 billion.
- Dogecoin Drops 6.5% After Twitter Reverts Logo to ‘Blue Bird’
- Nine-Year Whale Wakes Up as Dogecoin Searches Surge 1,992% – Dogecoin and ARB Lead Altcoin Season
According to Cryptoglobe